JGB (Cayman) Newton, Ltd. v. Sellas Life Sciences Group Inc. et al
| JGB (Cayman) Newton, Ltd. |
| Sellas Life Sciences Group Inc., Angelos M. Stergiou, Aleskey N. Krylov, Jane Wasman, Stephen F. Ghiglieri, Dr. David A. Scheinberg, MD, PhD, Robert L. Van Nostrand and John Varian |
| 1:2018cv03095 |
| April 6, 2018 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| New York |
| Denise L. Cote |
| Other Contract |
| 28 U.S.C. ยง 1332 |
| None |
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Filing
108
OPINION AND ORDER re: 39 MOTION for Judgment on the Pleadings By Defendant Sellas Life Sciences Group, Inc.. MOTION to Dismiss The Amended Complaint By All Other Defendants. MOTION to Strike Document No. 18 (Paragra phs 9 And 72 Of The Amended Complaint. filed by John Varian, Angelos M. Stergiou, Stephen F. Ghiglieri, Jane Wasman, Sellas Life Sciences Group Inc., Aleskey N. Krylov, Robert L. Van Nostrand, Dr. David A. Scheinberg, MD, PhD, 48 MOTI ON for Judgment on the Pleadings --Motion (A) By Plaintiff JGB (Cayman) Newton, Ltd. For Partial Judgment on the Pleadings, and (B) By all Counterclaim Defendants to Dismiss all Counterclaims. filed by JGB (Cayman) Newton, Ltd., JGB Ca pital L.P., JGB Capital Offshore Ltd., JGB Partners L.P., JGB Collateral, LLC. JGB's July 6, 2018 motion for partial judgment on its own claims is denied. JGB and all counterclaim defendants' motion to dismiss is denied as to Sella s's counterclaims one through four and granted as to Sellas's counterclaims five through seven for mutual mistake, conversion, and unjust enrichment. Sellas's June 18, 2018 motion for judgment on the pleadings seeking dismissal of JGB 's FAC and all other defendants' motion to dismiss the FAC are granted in full. Sellas and all other defendants' motion to strike paragraphs 9 and 72 from the FAC is denied. This resolution of the pending motions leaves four counterc laims brought by Sellas for trial. They are (1) declaratory judgment against JGB that the Hard Price Floor adjusted to $10.50 after the reverse stock split; (2) declaratory judgment against JGB and JGB Collateral requiring the JGB entities to deliver cash collateral owed to Sellas; (3) breach of contract against JGB for return of the excess shares it delivered while using the $0.35 Hard Price Floor; and (4) breach of contract against JGB and JGB Collateral for release of funds hel d in the Collateral Account. In light of this Opinion's resolution of the core contract dispute, the parties shall advise the Court by Thursday, October 25, 2018, whether a trial is necessary on the four outstanding claims. (Signed by Judge Denise L. Cote on 10/23/2018) (rro)
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